BEIJING, July 11, 2018 /PRNewswire/ -- iQIYI, Inc.
(NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative
market-leading online entertainment service in China, today announced that it has ranked for
the first time on the prestigious Fortune China 500 list,
ranking 419th place. iQIYI's inclusion on the list, which
features leading Chinese company such as CNPC and China
Mobile, is a reflection of the rapid development of the
company over the past couple of years. The company has expanded its
services into all areas of the entertainment industry, far beyond
its beginnings as an online streaming platform. iQIYI's revenue in
2017 was RMB 17.378 billion, and
the company received a revenue of RMB 4.9
billion in in the first quarter of 2018, representing a
year-on-year increase of 57%.
The Fortune China 500, is the China-focused affiliate list of the
authoritative Global Fortune 500 list and is generated in
cooperation with China International Capital Corp's Wealth
Management Department. Like the Global Fortune 500, the Fortune
China 500 is ranked by revenue, and is a review of all Chinese
companies listed on both domestic and overseas markets, based on
officially disclosed information from listed companies on various
stock exchanges. This year, Fortune China raised the threshold of
entry for the list from RMB 11.323
billion to RMB 13.864 billion.
The Fortune China 500 list also shows clear
indications that the strength of the Chinese internet industry is
continuing to grow. This year, 7 internet companies are listed
on the Fortune China 500 list, with a total market value of
RMB 7 trillion.
Since its founding eight years ago, iQIYI has continued on
expanding its innovative
monetization models, growing the business in all areas including
advertising, paid membership, publishing, content production and
distribution, and IP licensing. The company has risen to become
China's leading online
entertainment platform, based on the strength of its selection of
high quality content and the use of advanced technology which
ensures an unmatched user experience.
"iQIYI is committed to bringing our audiences an even greater
online entertainment experience," said Gong Yu, Founder & CEO
of iQIYI. "With our investment for the future in innovative
technologies, particularly artificial intelligence, I am confident
that we will continue to surpass the expectations of our users and
secure our place as a world-leading technology-based entertainment
giant."
About iQIYI, Inc.
iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company") is an
innovative market-leading online entertainment service in
China. Its corporate DNA combines
creative talent with technology, fostering an environment for
continuous innovation and the production of blockbuster content.
iQIYI's platform features highly popular original content, as well
as a comprehensive library of other professionally-produced
content, partner-generated content and user-generated content. The
Company distinguishes itself in the online entertainment industry
by its leading technology platform powered by advanced AI, big data
analytics and other core proprietary technologies. iQIYI attracts a
massive user base with tremendous user engagement, and has
developed diversified monetization models, including membership
services, online advertising services, content distribution, live
broadcasting, online games, IP licensing, online literature and
e-commerce etc. For more information on iQIYI, please visit
http://ir.iqiyi.com.
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SOURCE iQIYI, Inc.